Congress approves the Fiscal Responsibility Law

DOMINICAN REPUBLIC - In Brief 25 Jul 2024 by Magdalena Lizardo
Today, the National Congress approved the Fiscal Responsibility Law. The purpose of the law is to guarantee that by 2035 the general government debt ratio stands at 40% of GDP. To this end, a limit is established on the annual growth of primary spending so that it does not exceed the growth of annual inflation by more than 3 percentage points. According to the Minister of Finance, Jochi Vicente, the Fiscal Responsibility Law is a fundamental component of the public sector reforms that the government of Luis Abinader will implement in the next 4 years.

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